To resist market slowdown...

Hyderabad's real estate market is in a slowdown phase. Short term real estate speculators and traders are almost entirely out of the scenario and it is only the serious end user who is driving the market.

In order to attract serious end users towards buying houses, real estate developers are going all out by launching special incentives or piggy back riding on some festival to woo the buyer. One of the first groups to launch an incentive in the city and brand the scheme is Manjeera Group, a Hyderabad-based real estate developer. In fact, they have been the pioneers in branding this scheme under the name "Anmol".

The Anmol scheme was launched in Manjeera's Diamond Towers project. According to the company spokesperson, they had noticed that in many cases the property buyers, especially the working class, find it difficult to pay the Pre EMI, which is paid before the flat is delivered to them as they will be still paying the rentals for their existing flat. With this unique offer, one gets to pay no Pre-EMI till one gets possession of the apartment. Buyers have to only pay the margin money and no Pre-EMI till they get possession of the property and the Pre-EMI is borne by Manjeera.

The question to be asked now is by how much have the sales gone up after launching this scheme. The company spokesperson informs that "the sales have been accelerated by 15 per cent at the moment and we have not yet publicized this scheme much, with proper publicity it has potential to accelerate up to 50 per cent.

On the question of what exactly are the benefits a property developer gets out of this scheme, the spokesperson said that "any novel scheme wherein the packaging and the features of the scheme are beneficial to the customer will have acceptability and will boost the sales and any developer is benefited by early sale and the resources of the real estate developer can be used for a new project."

The group adds that the current scenario is one where the growth rate of property values has slowed down but not the absolute prices. Real estate developers have to keep coming with USP for the project.

For more details on Hyderabad Properties, log on to magicbricks.com

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